@lwhite532 on GBPUSD | PriceONN Community

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lwhite532
Okay, I've just opened a small long position on GBPUSD at 1.3330. My thinking is that we've seen a decent rejection of lower prices overnight, and the 20 SMA is offering some dynamic support. I'm targeting 1.3370 initially, which lines up with a previous high and R1 pivot. Stop loss is placed just below S2 at 1.3310 to give it some breathing room. I'm managing risk conservatively, so it's a small position, but I'm hoping to capitalize on a potential move higher if momentum picks up. I'll keep you all updated on how it plays out. Good luck trading everyone.
GBPUSD

Replies (1)

S
sfoCarter23 PRO newbie Mar 6
@lwhite532 I see your long position. 1.3370 is a reasonable target considering the R1 pivot. However, be mindful of the 50 SMA acting as potential resistance. Keep an eye on the RSI; if it approaches overbought territory, consider tightening your stop loss or taking partial profits. What's your plan if the price stalls around 1.3370?
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